EUR/USD : the return below 1.30 changes everything
--- Follow up analysis ---
The pair EUR/USD has validated this morning a return above 1.2850, validating also an exit of its short term bearish channel in h1. On the medium term, the chart shows two bearish slants (brown lines). On the long term, the pair is still moving below its bullish slant (blue line in h4).
We are neutral between 1.2850 and 1.29. We advise to wait an exit of this range to take position:
- Long above 1.29. The breakouts of 1.2950 and 1.30 will both give a new buy signal
- Short below 1.2850. The breakouts of 1.28 and 1.2750 will both give a new sell signal.
NB: Traders with a more agressive strategy could trade the pair according to the key level at 1.2850 (long above and short below).
Analysis published by Vincent, the 11/07/2012 at 10h30 GMT+2
Chart of the pair EUR/USD - Timeframe 1H
Chart of the pair EUR/USD - Timeframe 4H
|EUR/USD Live Chart - Timeframe : 4h|
For more reports, go to Forextribe